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Payment Data Systems Selected to Present at FinovateSpring 2016 in San Jose

SAN ANTONIO, May 05, 2016 (GLOBE NEWSWIRE) -- Payment Data Systems, Inc. (NASDAQ:PYDS), an integrated payment solutions provider, has been selected to showcase its innovative prepaid platform, Akimbo, at the FinovateSpring 2016 conference at City National Civic in San Jose, CA.

Houston Frost, Senior Vice President of Corporate and Prepaid Development, Payment Data Systems, Inc. will be demonstrating Akimbo’s solutions on Tuesday, May 10th at 8:45am PT and management will be available following the demonstration for questions.

Akimbo is a consumer-facing payments provider striving to reinvent the prepaid card and offering a novel way to stay on budget, manage allowances and share money with friends and family. Akimbo is one of the only consumer prepaid cards currently participating in Apple PayTM.

“Akimbo is committed to providing our prepaid card customers what they want: speed, mobility and access to the newest payment technologies,” said Houston Frost, Senior Vice President of Corporate Development, Payment Data Systems, Inc. “Finovate highlights some of the most exciting developments and innovations in financial technology and we are honored to have been selected to demonstrate the Akimbo product and how we can help improve the payment experience for our customers.”

Akimbo Now, launched in November 2015, is a simple yet powerful payment solution and API that allows businesses and third-party applicants to send rewards, incentives, and other payments to customers, contractors and employees. Akimbo Now introduces a new and unprecedented disbursement method – a virtual card account that is sent via email and can be used immediately for online purchases or added to a mobile wallet.

In December, Payment Data Systems released Akimbo Gift, a new consumer gift card that can be ordered online and sent to a recipient by email or as a physical card by traditional mail. Once received, users have the option to upgrade their gift card to a reloadable Akimbo Card product and transfer their gift card balance to the new reloadable account, offering additional features such as money sharing, bank transfers, ATM access, and more.

About Payment Data Systems, Inc.
Payment Data Systems, Inc. (NASDAQ:PYDS), a leading integrated payment solutions provider, offers a wide range of payment solutions to merchants, billers, banks, service bureaus and card issuers. The Company operates credit, debit/prepaid and ACH payment processing platforms to deliver convenient, world-class payment solutions and service to their clients. The strength of the Company lies in its ability to provide tailored solutions for card issuance, payment acceptance, and bill payments as well as its unique technology in the prepaid sector. Payment Data Systems is headquartered in San Antonio, Texas, and has offices in New York, New York; and Long Beach, California.

For additional information please visit www.paymentdata.com. Websites: www.ficentive.com, www.akimbocard.com, www.streamprepaid.com, www.zbill.com. Find us on Facebook®.

Apple and Apple Pay are trademarks of Apple.

Issuer Statements
The Akimbo Prepaid MasterCard® and Akimbo Gift MasterCard® are issued by Sunrise Banks N.A., St. Paul, MN 55103, Member FDIC, pursuant to a license from MasterCard International Incorporated. The Akimbo Gift MasterCard and the Akimbo Prepaid MasterCard are marketed and administered by FiCentive, Inc. (PYDS). FiCentive, Inc. is a registered agent of Sunrise Banks N.A.

About Sunrise Banks, N.A.
Sunrise Banks, N.A., based in St. Paul, Minnesota, seeks to radically change the way urban communities and underserved people thrive by empowering them to achieve their aspirations. Sunrise is certified by the U.S. Treasury as a Community Development Financial Institution (CDFI), a designation given to approximately 109 banks nationwide. Sunrise Banks is also a member of the Global Alliance for Banking on Values and is a certified B Corp for its demonstrated commitment to transparent corporate governance and positive community impact. Visit Sunrise Banks at SunriseBanks.com, on Twitter @SunriseBanks, or on Facebook. Sunrise Banks is Member FDIC.

About Finovate
FinovateSpring is a demo-based conference for innovative startups and established companies in the fields of banking and financial technology. Finovate conferences consistently attract large, high-impact audiences of venture capitalists, press, industry analysts, bloggers, regulators, entrepreneurs, and senior financial and banking executives. Held in San Jose, the event offers an insight-packed glimpse into the future of money via a fast-paced, intimate, and unique format. FinovateSpring is organized by The Finovate Group. For more information on the conference please visit www.finovate.com.


Investor Contact: Julie MacMedan Elizabeth Brossy Financial Profiles PYDS@finprofiles.com

Source:Payment Data Systems, Inc.